Wells Fargo & Company MN Purchases 8,649 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Wells Fargo & Company MN grew its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,939 shares of the bank’s stock after acquiring an additional 8,649 shares during the quarter. Wells Fargo & Company MN owned 0.15% of Live Oak Bancshares worth $2,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LOB. Vanguard Group Inc. boosted its holdings in shares of Live Oak Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank’s stock worth $104,066,000 after buying an additional 10,213 shares during the period. Geode Capital Management LLC raised its position in shares of Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after buying an additional 13,824 shares in the last quarter. abrdn plc lifted its stake in Live Oak Bancshares by 10.0% during the fourth quarter. abrdn plc now owns 336,721 shares of the bank’s stock worth $13,324,000 after purchasing an additional 30,597 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Live Oak Bancshares by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,002 shares of the bank’s stock valued at $11,232,000 after buying an additional 5,181 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Live Oak Bancshares by 6.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 234,818 shares of the bank’s stock valued at $9,288,000 after acquiring an additional 13,555 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 1.3 %

Shares of Live Oak Bancshares stock opened at $24.65 on Thursday. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $50.57. The business has a 50-day moving average price of $27.64 and a two-hundred day moving average price of $37.19. The company has a market cap of $1.12 billion, a P/E ratio of 17.00 and a beta of 1.75.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.49%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOB. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares has a consensus rating of “Hold” and a consensus price target of $44.75.

Live Oak Bancshares Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.